18% drop in 2 weeks, page-37

Boccione. Weekend Australian has story on Macquarie's "problem" with ASIC and is a worthwhile read.
But, one interesting piece of information reinforces the view why ICN's SP has been battered this week after the Macquarie analyst downgraded shale gas from the Nappamerri Trough from the Moonta results (since refuted by many).

But, Macquarie has 310,000 clients and over 300 "advisors".
Your post indicates thaat Macquarie was the biggest seller of ICN shares with around 3 Mil. shares being sold. That is a huge weight for any S.P. to support and of absolutely no surprise that Macquarie clients would have taken the "advice" from one of "their" analysts and dumped both Beach and Icon and others in the C.B.

I am confident that once ALL of the results come out from Holdfast-2 (the horizontal), Streaky-1 and Halifax-1, that we should then see the actual value of shale gas in the C.B., more particularly that owned by Beach and Icon, that will result in a more accurate re-rating of both companies.

I am still of the opinion that Santos might be the elephant in the room and we might see some "action" with that company.